Vote "YES" on Amendment 3

Florida Realtors launched its “Vote Yes on 3” campaign

In support of Amendment 3, a proposed constitutional amendment that would expand homestead property tax exemptions and lower the annual assessment cap on nonhomestead properties.

The association’s board voted Aug. 23 to endorse the measure, which is scheduled to appear on the Nov. 3 ballot and would require at least 60% voter approval to pass.

Amendment 3 would increase the homestead exemption for nonschool property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments beginning in 2029.

The proposal would also reduce the annual assessment-growth cap for nonhomestead properties, including rentals, second homes and commercial real estate, from 10% to 5%. [The Capitolist News]